Indiana slots bill amended

Legislation calling for slot machines at Indiana tracks continues to take shape. House Bill 1835 received a second reading before the full Senate Monday, March 26, undergoing yet another set of amendments. HB 1835 could be voted on by the full Senate within the next several days.

The Senate Tax and Fiscal Policy Committee adopted HB 1835 Tuesday, March 20, with a 9-3 vote. At that time the bill was significantly changed as the number of machines that could be installed at both Hoosier Park and Indiana Downs were cut and the licensing fee was quadrupled from the $100 million price tag set by the full House. The minimum number of live race dates at each facility was also cut from 160 (100 harness dates) to 140 live racing days (90 harness dates).

Monday’s amendments further define dates requirements for each track. HB 1835 now calls for a minimum of 140 live racing days (80 harness) at both facilities, but caps the Indiana Horse Racing Commission’s ability to increase the standard to no more than 160 dates (90 harness) at each track. The amendment also limits the number of races either track can card on a program at 12. If a licensee permanently ends horse racing, the license is null and void.

The $400 million license fee that each track must pay to operate slots will now go to the state’s general fund. Previously, $200 million was to be allocated for property tax relief, while the remaining $600 million was earmarked for an Indiana Life Sciences Fund to promote university research. The Senate version of HB 1835 now calls for a two percent county slot wagering fee not to exceed $5 million annually. The fee would be paid to Madison and Shelby counties, where each track is located.

The amended version of the bill also fleshes out how the 15 percent of revenues earmarked for purses and breed development are to be allocated. Standardbreds and Thoroughbreds each receive 46 percent of the total, while the remaining eight percent would go to Quarter Horses. For Standardbreds, roughly half of the share would go to purses, while the remaining 50 percent would be set aside for breed development.

Finally, HB 1835 would allow Hoosier Park and Indiana Downs to operate slots in temporary facilities for up to 24 months. If a license holder required more time to construct permanent facilities, it would need to be approved by the Indiana Gaming Commission.

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